BSHVF - Bushveld raises $35M in convertible debt from Orion Mine Finance

Bushveld Minerals ([[BSHVF]] -4.2%) is set to issue ~$35M convertible loan notes under an existing agreement with Orion Mine Finance.As an adjustment to the previously announced terms of the instrument, the conversion price of the notes has been set at 17p, with fixed 10% per annum coupon with a three-year maturity date from the drawdown date.The proceeds from the issue of the convertible loan notes will go towards the first phase of Vanchem's critical refurbishment program and debt repayment.The issue of the convertible loan notes is conditional on completion of the $30M production financing agreement, also announced on September 30.

For further details see:

Bushveld raises $35M in convertible debt from Orion Mine Finance